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-- protests across europe, demonstrators say that enough is enough. a long, dark shadow across northern australia. a solar eclipse, witnessed by tens of thousands of people. >> it is midday in london, 7:00 a.m. in washington, 8:00 in the evening in beijing, where the communist party has almost completed the process of handing power over to the next generation of leaders. 2000 party delegates have been meeting for the last week, most of the time behind closed doors. the party congress has now concluded in the coming out of their new leadership lineup. >> as they stepped aside today, the outgoing chinese communist leaders congratulated themselves. under their watch, china has risen so fast that this century is often called china's century. an authoritarian model of the future. many in china, however, were not so confident. the new leadership, rubber stamp, will be unveiled to the world tomorrow with a question, can it continue to keep china's 1.3 billion people excluded from power? there is no sign that the party is willing to engage with those who want real change, like the nobel peace p
with washington on a number of issues, from the war in syria to missile defense in europe. >> here, that ties are viewed as the norm, but that is not normal. it does damage. it prevents russia from fulfilling important tasks, especially the long-overdue process of modernization. >> right now, putin is keeping tight control on things at home, and he uses his opposition to america to rally the masses behind him. >> for more on what the president's reelection means for u.s. foreign policy, we are joined in the studio by markets of the swp german institute for international and security affairs here in berlin. are we likely to see a second attempt at a reset of relations with moscow? >> a couple of months ago, the u.s. president indicated through russian counterparts that after the election, he would have more flexibility -- the u.s. president indicated to his russian counterparts. i think there is more room for political initiatives. i think the cooperation will remain limited, given the domestic situation in russia. >> let me ask you -- the obama administration during its first four years shift
by the dispute between international monetary fund and the europe group ministers, just how quickly they could do that, but greece is saying it will be out of money, bankrupt, by friday november 16. they have got to raise money on international markets somehow, and they need the backing or at least the promise of that extra bailout to do that. it is a bit of a puzzle. >> how big is this difference of opinion we've been hearing about? >> big. what happened earlier today or late last night reflected the frustration in the international monetary fund at the constant pushing off, as it is seen, of final decisions. in other words, you can see in a couple of years greece beginning to reduce its debt, and imf -- increase agreed to that -- the imf and greece agreed to that. when they wanted another couple of years, she saw red, really. she rolled her eyes and does not want to book any more delays because there's been years of indecision, as they see it at the imf. >> briefly, that's not the only dispute you had in brussels. also something to do with the eu budget, a problem there. >> it is very complicat
them towards that will be huge. with issues in russia where radio free europe radio free europe basic or shut down its operations because they can't get the licensing because the government refuses to allow licenses to reading stations. we're going to see that. that to me, how we continue to use technology to push public diplomacy forward towards regimes that are going to use technology or intimidation to prevent that i think is going to really determine how the next four years ago. [inaudible] >> i would. it's a law that stops the state department from communicating with americans. it does present a lot of problems in an internet age. can i just add one thing? what p.j. said reminded me that i may have forgotten the most important legacy of all, and one of the things i meant to say here, which is i think that public diplomacy needs a big success. i think for public diplomacy to grow and become more important, we need to be able, the mecca people need to be able to point to something and say hey, that works. so for example, most americans believe that radio free europe helped bring do
will not tolerate the situation. >> the palestinian president has cut short a visit to europe, and palestinian officials say they are seeking to diffuse tensions. >> we have a very tense situation in gaza, and we have a situation deteriorated every hour. >> the egyptian president warned of a spill over. >> israel has to realize that we cannot accept this aggression. it has a negative effect on stability in the region. >> israel has code-named its operation "pillar of defense," but many fear the result will be an escalation of the israeli/palestinian conflict. >> dw's tanya kramer has been in gaza the last several days, and she is back in jerusalem. it is looking more and more like war. >> what we can say right now is that the situation is surely not be escalating. we have been getting reports in the past couple of minutes of dozens of air strikes. what we see now as a lot of action. a lot of drumbeating on both sides. the fact that the israeli prime minister has given the green light, we have been hearing israeli officials in the past say that the ground operation could be possible. the rocket
abandoned it. therefor, by the end of world war or ii when -- world war ii when europe unloaded its colonies, those colonies were themselves designed on principles of civil law. thus, the first two pillars taken together mean that a christian, protestant religion influenced and shaped everything about america's foundation of laws and defined it system of personal rights. it wasn't just that the united states was a democratic republic, but that the very premises of what a democratic republic meant were likely to be far different in the united states than anywhere else. um, the second -- the third of the pillars involves economic freedom. private property rights with legal titles and deeds in a free market economy. now, these may seem synonymous, but they are not. as hernando desoto pointed out, in many places of the world, there's a semblance of a free economy at work, but there's no system of title deeds to land or other property. this has two significant effects. first, it means property ownership is never secure. you can never be sure the government won't come around and grab what you have
companies. >> why europe? >> number one, we think the valuations are at historic lows versus the u.s. and versus long-term averages, valuation. number two, we think a lot of bad news is already priced in. number three, greece seems to be another year, they're going to kick the can down the road you said earlier. but greece they are doing the same thing. so the markets -- the spanish bond yields, portuguese bond yields, irish bond yields, greek bond yields, late on friday last week there was a comment that germany might allow greece to buy back some of their debt so those bonds went up. you recall on may 31st they were at 14, they're now 32. they have overdoubled the greek bonds in price. okay? the yields haae come down from 30 to 14. where we're going with this is we think -- liz: that's not what you are investing in. >> no, but the backdrop, the backdrop seems to be making a bottom here. okay? secondly, we think china, which is a very important export market, okay, for europe, china is basically also making a bottom. so we think europe can make a bottom based on fundamentals of ch
. general allen leads coalition forces in afghanistan and was to be the nato command ner europe. now that is on hold following the discovery of flirtatious e-mails between general and jill kelley. he denies having an affair. at the white house, the classic question. when was the president told? >> it is simply a fact that the white house was not aware of the situation regarding general petraeus until wednesday, and the situation regarding general allen until friday. >> there are lingering questions that members of congress will raise tomorrow. why did it take the f.b.i. so long to inform officials here about the petraeus affair? after all, this was national security compromised. it is as radio gripping as it is messy. an american soap opera. there may yet be more twists in the plot. steve kingston, "bbc news," washington. >> for more, i am joined by a senior correspondent for national journal. thank you for coming in. is this what this is really all about. it sounds like a soap opera. there is sex involved, and that is why we are interested in it, or is there more to it? does it matt
of power. the holy roman empire, in europe, the ottoman empire in what is today turkey, the mogul empire, present-day india, the ching dynasty, temporary china, and the tokugawa shogunate in japan. each of these fears had its own way of governing on its own cultural and political approach to commerce, and order. if you fast-forward about 100, 120 years to the 19th century, the world changed dramatically. power had shifted from the west and the south to the north. and by 1815, the end of the napoleonic wars, europe had pulled ahead of the rest of the world. and the industrial revolution and the development of the steam engine and the development of steel and battleships, and the telegraph and underground, the underwater submarine cable enabled europe, not just to be the most powerful place in the world, but to extend its reach globally. and by the end of the 19th century, europe had either colonized or had already de- colonized 90% of the world landmass. and we have been living in the world since 1815 dominated by the west. economically, politically and ideologically. first it was europe,
and -- as america stood on the edge of world leadership europe entered a decade in which it convinced itself war was impossible. the book grand illusion captured the view that europeans were too led vance, sophisticated to fight each other. john mccain echoed this with his famous observation how the world was tied together, and englishmen could order from his doorstep products from faraway lands and have them delivered to him. it is an early version of thomas friedman's theory which claims advanced countries that use computers won't go to war with each other. are, the starbucks theory. any two countries that have starbucks won't fight. unless they have triple espressoss. another observer-block, in a much different way, posited war would be so bloody and weaponry so deadly that no one would dare risk a conflict. all of these views assume european leaders can be rational, a stretch even in the present day. this of course vanished in august of 1914, a war sparked by one of the most unlikely of accidents when archduke franz ferdinand on his way back from a speech in sarajevo turned away from his pla
wants europe to succeed, they have to be willing to compromise. and the parliament is willing to compromise. we set our starting positions through our negotiations, and we've negotiated all of those and have come to a fair compromise is. obviously we are not -- we don't set our positions and say no otherwise we wouldn't be representing our people. we would be giving a veto to them. the european parliament is willing to compromise but it is also ready to fight. yes, you may applaud. i'm also glad that we are going to have discussions on the debate in december on the adaptation of the european union to current developments in the future but without further ado i would like to give the floor to the chancellor. >> president, distinguished members, ladies and gentlemen, i can speak to you today and this is the first opportunity since the german e.u. presidency since 2007 to speak to you, and i would like to use this opportunity to give you my view of the situation on the union not necessarily about the midterm financing but in today's over november will be the anniversary of the op
europe. whichever candidate is elected, politicians say merkel's partners will be expected to play a bigger role in the world stage. >> europe is going to have to take on more responsibilities. the u.s. expects to do more militarily and expects us to get the turbulence with the euro under control, so germany is going to do more in every respect. >> the u.s., then pose a global role may be changing, but most germans still see obama as a hero -- the u.s.'s global role may be changing. >> there have been some disappointments. he was not able to push through as many reforms as he promised. >> he is still better than romney. >> i would vote for obama. why? i think he is more progressive and cares more about the people. >> his competitor -- money alone is not enough. i just think he is less concerned about everyone in the u.s. >> obama would be better for germany. >> obama's german supporters are holding their breath to see who comes out on top, but whoever wins, the next four years hold many challenges, both for the u.s. and for europe. >> the european union's budget is coming under inc
from around the world. socks bounce, equity markets in europe beginning the week in green, rallying more than 1% in some places on hopes of a resolution on the fiscal cliff. barack obama praises myanmar's shift to democracy in a first ever trip by a serving u.s. president to the country. but he cautions that his trip should not be seen as an endorsement of the country's sgoechlt. and oil futures hitting a two week high as international pressure mounts for a cease-fire in gaza. u.n. secretary general ban ki-moon is heading to cairo for emergency negotiations. good morning, welcome to the program packed full of fantastic guests to give you you updates and analysis on where we are in trade. if europe, higher by 0.8%. coming off the 3 1/2 month low that we saw in the close on friday, helped along by optimism on the negotiations to avoid a fiscal cliff state side. we saw quite a rally in the u.s. on friday's close and that is feeding through to europe here this morning. ftse 100 higher by 09%, xetra dax by more than 1% and ibex 35 more than half a percentage point. the bond markets, the
problems in the u.s. and europe. in tokyo the nikkei average ended up 2.2%. it finished above the key 9,000 level due to the yen's decline. chinese markets lacked direction. investors were unsure how china's new leadership will shape the country's economic policies. the shanghai composite ended down 0.77% at 2014. hong kong's hang seng index rose 0.25%. >>> turning to europe, the markets are moving slightly lower. london's shares down by almost 0.7%. frankfurt the dax declining by 0.6%. in paris the cac 40 declining by 0.4%. moving on to currencies the dollar is little changed against the yen after japan's lower house was dissolved in the afternoon. the euro is fluctuating in a narrow range currently quoted at 103.32-36. >>> the new leaders of china were announced on thursday. on where the chinese economy will go from here we spoke to steven wong, an associate professor at the university of hong kong. >> i don't think there is a dramatic difference between the two in terms of economic policy. the goal is to try to achieve a reasonable economic growth as well as to balance the need of st
in europe, you would be a valuable acquisition to the art, anone of theirst painters in the world, provided you could receive these aids before it is too late in life, and before your manner and ste were corrupted or fixed by working in your little way at boston. narrator: an impressive letter to a young painter and from the distinguished sir joshua reynolds. could he be right? ( harpsichord continues ) john singleton copley loved his country, but he wanted the richer artistic influences of the old world. besides, talk of revolution was everywhere. political contests, he felt, were neither pleasing to an artist nor advantageous to art itself. in 1774, copley left; it would make him a better painter, he thought. sad for him, sad for america: he never returned to his home. at 34, john singleton copley was already one of the best and most popular painters in the american colonies. the young american artist john trumbull said of him, "an elegant-looking man dressed in fine maroon cloth with gold buttons, this dazzling to my unpracticed eye, but his painting, the first i'd ever seen deserving th
baghdad and other cities. it is not clear if the attacks are the work of one group. across europe, tens ofhousands have taken to the streets in protest of rising unemployment and government austerity measures. workers in spain, portugal, greece, and italy went out on strike. gary hewitt reports. >> hundred of thousands packed madrid to protest austerity. it throws down a challenge not just to the spanish government but to europe's leaders. protesters are trying to enforce a general strike by blocking roads. there were clashes with police, but protests were part of a europe-wide action with hundreds of thousands of people striking against spending cuts and austerity. >> all the cuts are bringing more unemployment. >> in madrid, protesters would from stall to stall, shutting -- pulling down shutters, turning on those using restaurants, surrounding taxi drivers but continued working. there are some basic facts driving the process. spain is in recession for the second time in three years. unemployment is still going out. the economy is weakening, yet further tax increases are in the pipelin
to this market? europe or the fiscal cliff? >> i actually think -- i think it would be the fiscal cliff but i have to tell you, if europe starts to implode and look what they're doing in greece today, if that movement starts to move to spain and the other countries that's going to steal the headlines. >> i think those pictures as well. even if we don't get headlines out of greece. when you see those kinds of pictures, it brings it all back home. >> it brings it all back home. then people are concerned that it gets out of control. then it starts to go to spain. starts to go to the other countries. then does it in fact come to our shores? if we go over the fiscal cliff. >> i'll see you a little later in the show. >>> phil lebeau joins us now. he's got more on the late breaking news on boeing for us. what do you got, phil? >> sue, boeing is just announcing that it is doing what essentially is -- what they're saying is not a major restructuring but is nonetheless a further restriction and movement and consolidation of mid level executive position within the defense and space division. there are a
government spending is but they triumphed over. >> europe comments more temper. how much does that matter? >> you'll see in q-1 of next year europe becoming executives will say we are managing europe down. we're not going to make europe a key part of -- when they did the euro single currency and lots of companies rushed, particularly technology companies rushed to europe. you'll see in q-1 companies saying, look, we have maintained our european. don't worry about european. if they don't say it, i think we'll sell the stocks. >> worse before it gets better was on the conference call. >> industrial production misses this ridiculous fight between the eu and imf. bank of england cutting growth outlook for the u.k. >> gdp tomorrow. it will be terrible. alco alcoa being struck because they try to close a plant. the conversation will be at the beginning of the conference call and europe -- we're managing europe down to x. european we're going to close europe. ford motor gave you an example of what will happen. we won't let europe bring our company down. latin american, asia turn turne. we won't
of world war ii, when europe unloaded, however unwillingly its colony, those colonies themselves to find and print process of the law. thus the first of pillars taken together means that a christian, protestant religion influence and shape everything about america's foundation of law and to find his summa arete. it wasn't just that the united states was a democratic republic, but that the very premise of a democratic republic meant were likely to be far different in the united states than anywhere else. the third in the pillars involves economic freedom. private property rights with legal titles indeed in a free-market economy. these may seem synonymous, but they are not. as hernando desoto pointed out in many places of the world is a semblance of a free economy at work, but there's no system of title deeds to land or their property. this has two significant effects. first it means property ownership is never secure. you can never be sure government will come around and grab what should have. second it means individuals with deeds and titles can use their land as collateral for business
way and focus on just one section about the bands in europe. once, not very long ago, americans and europeans prided themselves on their enlightened attitudes of religious toleration and understanding. although everyone knew that the history of the west was characterized by intense religious animosity and violence including such bloody episodes as the crusades and the wars of religion. but including as well, the quiter violence of colonial rebelling use domination by europeans in many parts of the world and added antiseminism and -- the gnat disifm which implicated grerm any and many other nations. europe and the u.s. until very recently liked to think that the dark times were in the past. and that religious violence was somewhere else. in society's more allegedly primitive, less characterized by heritage of christian values. today we have many reasons to doubt that come complacent self-assessment. it calls for critical self-examination as we try to uncover the roots of ugly fears and suspicious that currently disfigure all western democrats. in april 2011, a law took affect in
the fittest should direct the society. as america sat on the edge of leadership in europe entered a decade in which it convinces postwar was impossible. the book, grand illusion, catcher to view that europeans were too advanced, to sophisticated to fight each other. john maynard keynes echo davis with his famous observation about how the world is tied together, how an englishman can order from his doorstep product from faraway lands and have them delivered to them. it's kind of an early version of thomas friedman's theory, which claims the advanced country that used computers won't go to war with each other. i called the starbucks theory. any two countries that have starbucks won't fight unless they have triple espressos. another observer, i didn't book in a much different a positive or would be so bloody and weaponry so does the no one would dare risk a conflict. all these few six claim the leaders to be a stretch even in the present day. this of course finished in august 1914, it were sparked by one of the most unlikely of accidents when frantz ferdinand on its way back from his speeches
across europe. millions of protest spending cuts and tax hikes they say of deepened the region's economic crisis. we will get an update from spain, where one out of four workers is unemployed. then the scandal that brought down cia director david petraeus spreads to the top commander in afghanistan. >> the president has put on hold general allen's nomination pending the investigation of his conduct by the department of defense. >> we will be joined by writer glenn greenwald, now of "the guardian." he says the stars of the national security establishment are being devoured by out of control surveillance. then noam chomsky visits gaza. >> it is kind of amazing and inspiring to see people managing somehow to survive, essentially as caged animals, subjected to constant random, says district -- sadistic punishment only to humiliate them. all of that and more coming up. >> this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. president obama will open deficit reduction talks friday with a call for one point -- $ 1.6 trillion tax hike on corporations and the weal
in europe bouncing after a negative session in asia. and following the dow's worse day in a year. and shares in socgen are trading higher as one time costs match good third quarter results. the ceo says why the bank's underlying performance remains healthy. >> when you have a credit which is improving, you have to recognize negative revenues. >> and amid violent protests, draghi warns economic uncertainty is impeding germany as he prepares to oversee the latest rate setting meeting. welcome to "worldwide exchange." european central bank, bank of england, all meeting. ross westgate has been drafted up for that coverage so i'm on my own this morning. well, me and you guys. keep your responses coming to everything on the program. worldwide@cnbc.com, cn@cnbcwex. draghi expects economic activity to remain weak, so what is the likelihood of a rate cut? we'll get a preview from frankfurt. also spain testing investor appetite with the first auction of long term debt in a year and a half. we'll bring you those results as soon as they're out within the hour. and banks, health care and gun stocks all r
for europe and american investors. >> tom: and it's "givng tuesday," a new effort to add charity to your gift list this holiday season. >> susie: that and more tonight on nbr! >> tom: a lengthy courtship finally resulted in the marriage today between conagra foods and ralcorp. conagra is paying $5 billion to buy private label food giant ralcorp. that works out to $90 a share, a nearly 30% premium to ralcorp's closing stock price on monday. the deal will make conagra the largest manufacturer of private label foods. suzanne pratt takes a look at what's become a booming business. >> reporter: it used to be consumers would buy private label products to clean their bathrooms or wash their clothes. lately, however, they're eating them, too. from sodas to peanut butter, private label brands are shaking off the yuck! stigma and attracting value-conscious customers. and it's the popularity of private label food that's behind the tasty conagra-ralcorp deal. >> private label, otherwise known as store brands, is ining traction with retailers and shoppers. in fact, store brands have been growing faster th
the election. >> in a minute, we will look at unemployment in europe. >> first, other stories making headlines around the world. >> tensions are high in the tunisian capital after clashes between police and salafist muslims left italy will people dead. >> russia has launched a rocket from the steppes of kazakhstan, headed for the international space station. the rocket is carrying a spacecraft loaded with supplies including hardware, fuel, and water. >> following the resignation of former german president christian wulff, opposition leaders are calling for new rules on the president's salary. they say presidents should no longer be entitled to full salary for the rest of their lives if they leave office prematurely. >> eurozone economies are still struggling to pick up steam, and numbers do not appear to be getting any better. unemployment across the bloc hit an all-time high in september. >> latest figures show the total number of jobless in the eurozone edged up to 11.6%, more than 18 million people out of work. in spain, the situation is especially dire. >> luisa only wanted to stay in germ
on the way that economic perspectives are being seen also here in europe. that is why i have all this, investors were a bit reluctant to take any decisive action on the markets. >> a closer look at monday's numbers and of the dax finished the day -- across the atlantic, at this hour, the dow is trading flat. 2786. the biggest budget airline has raised its profit forecast from 440 to 520 million euros. >> the ireland based company reported a surge halfway through its fiscal year, boosted by the olympic games in london. it helped in part by a lower- than-expected fuel costs. we will be back after a short breaks to do not go away. stay with us. >> welcome back. one week after hurricane sandy cause destruction, tens of thousands of people need temporary housing. >> both the storm and the government's response to it are expected to have a significant impact on tuesday's general -- general election. while president obama's handling has given him a boost. many struggled to recover. temperatures in new york have dropped to just below freezing. in neighboring new jersey, almost 1 million house
to solve that looming fiscal crisis. but another big issue really sinking the market today is europe. we have a downgrade from the european union on growth prospects in europe for this year. and it's looking like the recession could last all the way through next year. you're looking at riots in greece. greece has been a big issue all the way across. we're also hearing problems that germany's economy is getting worse. germany is the economic driver in europe. this is a big deal here in america. a lot of large tech companies like cisco, oracle and hewlett- packard. they depend on sales in europe. they have seen their profits get squeezed by falling sales over there. if that continues we'll see that problem continue here in this country. let's look at the big board right now. lots of heavy selling on wall street today. dow down 265 points. nasdaq down by 65. s&p lower by 28. apple is worth noting today down 3.5% and at about $560 a share is now 20% lower than its all-time high it hit over $700 in september. that is officially correction territory for apple. >> a perfect storm not just the e
>> welcome to the "journal" coming to you from dw in berlin. >> southern europe goes on strike. >> elections chinese-style. the communist party votes for its new central committee as beijing's political transition moves ahead. >> picnics in persia -- a photographer explores the quiet defiance of everyday life. "stop these suicidal policies" -- that was the message from one spanish union leader as millions joint strikes this morning across southern europe. >> it is being called a european day of action and solidarity, and its target is the austerity that is sweeping the region. >> unions say the spending cuts and tax hikes are condemning their countries two years of recession and massive unemployment. >> in a moment, we will get the reaction from brussels and go live to madrid, but first, this report. >> protesters have come to vent their anger, and from early on, by a police in spain were braced for a long day -- riot police in spain were braced for a long day. unemployment stands at 25% in spain, the highest in the european union. every week brings fresh job cuts, and frustrat
a nato treaty. we get together with western europe, we're going to defend ourselfves, there's nothing wrong with that. same thing. i am criticizing in the book supernational, something about the nation-state or transnational, across or think of the transcontinental railway, something across nations, goes within nations. so the term transnational is used, and that's distinguished from international. those are some to have ideas. let's dig into a weeds a little bit. okay, so what do global laws and global rules mean? people are always saying we need global rules. and what are the twin pillars of liberty and consent? where do they come into all of this? okay, i'll give you one example from national security policy and one example from domestic policy. let's look at the laws of war. the united states is a party to the geneva conventions of 1949. the original geneva conventions, that's the traditional laws of war, they were radically altered in 1977 by the addition of additional protocol i to the geneva conventions. protocol i was supported during negotiations by the third world bloc, the
. >> an november day. the rest of europe across the channel a blur in the distance. conservative member of parliament douglas carswell would like to put as much space between europe and the uk as possible. he sees the eu as a malevolent force, and he would like britain to leave the block. >> we should stop obsessing about what happened 70 years ago, understand and respect that we are all liberal democracies. liberal democracies do not fight each other. liberal democracies should be able to pursue their self interest without fear that it will end badly. >> many of his fellow conservatives and the constituents who visit his surgery share his skepticism. they come to him to complain, blaming brussels for the problems in the u.k. and across the european union. >> past centralization when it comes to labor law, when it comes to financial service regulation, when it comes to even fairly mundane things like agricultural production, there is this extraordinary degree of centralization. harmonization has not created a utopia. it has created misery and poverty for millions of europeans. >> this s
." >> coming up in the next half hour. more protests in europe bowas my takes more powers. >> the world talking about climate change the economic hard times are putting the brakes on high expectations. and >> the egyptian president is meeting with senior judges today to assume a sweeping new powers. >> moving north towards autocratic rule. the of called a nationwide strike. >> he says his new powers are temporary but they want him to revoke his presidential orders immediately. >> for a fourth day, they swarm tahrir square to topple the president. they are outraged at his sweeping power grab. a massive protest is planned for tuesday. >> we demand the president of days the people who voted for him. they elected him to work on their behalf, not to do as he pleases. >> the political unrest is growing in scope. the judges sidelined are organizing their run protests. turbulence on the cairo stock exchange in the wake of sunday's major sell-off. traders and market analysts fear a lengthy political crisis. he has since tried to assure his seizure of powers will be temporary. he's has confidence in the
regimes in eastern europe. under the iron grip, hundreds of thousands died, and many more dissidents were sent to prison camps. these days, as albania tries to show a new democratic base to the world, even hoping one day to become a member of the european union, the past is still there to haunt it. former political prisoners are fighting a bitter battle for compensation, but not even hunger strikes seem likely to convince the current government. >> we go to the site of the hunger strike. the word "democracy" is still written on the wall. strikers refused food for weeks, and then police came and took away their water and medicine. this is where one strikers set himself on fire. the man did not survive. he was recently buried. >> the hunger strike was the result of 21 years of humiliation and discrimination of former political prisoners in this country. we are walking corpses. our bodies are alive, but our spirits have died. >> all their energy goes into the fight. many are mental rex, dependent on drugs or alcohol -- many are mental wrecks. the solidarity within the group is all they have
the global environment is much more difficult. see what's happening in europe, in the middle east, in china. second of all, you just had an election, and one of the messages of the election was one of shared responsibility and fairer burden sharing, in which the rich have done extremely well not just on the outside but also in terms of being protected on the down side. finally, and more importantly, the economic arguments against this, while they would be valid at higher tax rates are not valid here. so if you look at the hand the president has, it is stronger than the republicans', and i think both of them will want to seek some sort of compromise. >> it sounds so reasonable. let's bring in steve warren. he's an editor at the wall street journal, a conservative. steven, do you agree, are the republicans ready to strike a deal with the president if it means giving up the bush tax cuts for the wealthy? they have dug in on this. >> i don't know, ali. i listen to this conversation and i feel like i'm living in france. i see no economic wisdom in raising tax rates in an economy that is so fragi
about europe. we still have problems with greece, still a lot of rhetoric coming out, no true sign of relief for the euro sign. anything across the pond you're watching right now? >> monday we will see the euro central bank and the imf will hold hands together and say we will extend another two years, that will be it. also, spain sitting in the background, they are not doing anything. are they waiting for their fiscal cliff? one of the places we're looking at, japan. there is an election coming up in the middle of december. what we are seeing is the japanese yen devaluing. one of the things we need for their economy is exports. they have been horrible. look at electronics companies right now, they are really struggling. we're looking at the fiscal cliff, the dollar holding into an 80, 81 range, and it will probably stay there until we start getting closer to the christmas holidays and when it comes to crunch time for the fiscal cliff, let's see how this shakes out. cheryl: i still can't believe the euro is as strong as it has against the dollar considering everything that is going
zone economy, all of this weighing on oil. we see oil moving to the down side. speaking of europe, take a look at this video right now. came in a few minutes ago. more than 80,000 greek protesters outside of parliament turning violent ahead of the austerity vote to avoid financial disaster. we have had reports of fires burning, smoke as we're seeing the sun go down at this point, not going to be a good night there in greece. we are keeping our eye on that very fluid situation. protests, elections, hurricanes, nor'easters. okay, is lightning striking me here? we have got your portfolio covered no matter what. up next we will break it all down with howard lutnick, ceo of cantor fitzgerald he has market predictions and will tell us what bets he's taking now. and turned out to be the auto bail out at least in ohio. autonation chairman and ceo mike jackson is joining us to talk about how much the auto industry impacted last night's election. we have traders at the new york stock exchange cme and nymex. what is this? what are the traders really pointing the finger toward on the reason for thi
, this is a leading indicator. if you see europe doing any better next year, you have to start seeing at least this indicator bottoming. >> dollar just dipped down to its lowest point of the session on the back of that. and of course we've got in spain they're talking about the groth being much weaker than the government's forecast. >> even though their service might have barely picked up, but on the manufacturing side, key indicator in the business cycle, that was weaker in october along with greece's. so the decline in those economies continues to pick up speed. >> so let's get more on this. joining us is julian callow at barclays. julian, good to see you. what do you make of the pmis? >> clearly we're in a situation where the eurozone is still in recession effectively. that's the message coming from them, at the same time at a global level we are seeing some signs of a turning around gradually in terms of very depressed levels of business confidence. in particular i think we really have to look here to the united states and to china to see some stronger business confidence develop over the
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